https://www.taxtmi.com/caselaws?id=467208 Successful resolution applicant's refund claim for performance security and 1% upfront payment was rejected because the applicant failed to pay amounts and implement the approved resolution plan; the Letter of Intent expressly permitted release of assets only after full payment and allowed forfeiture of sums paid on default, and recorded acceptance of assets on an "as is where is" and "no recourse" basis. The adjudicatory finding that the applicant defaulted was treated as final, and the appeal against refusal to refund was dismissed, leaving the contractual forfeiture and non-refund outcome intact. en-us Mon, 26 May 2025 00:00:00 +0530 Tue, 10 Mar 2026 23:34:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467208 Successful resolution applicant's refund claim for performance security and 1% upfront payment was rejected because the applicant failed to pay amounts and implement the approved resolution plan; the Letter of Intent expressly permitted release of assets only after full payment and allowed forfeiture of sums paid on default, and recorded acceptance of assets on an "as is where is" and "no recourse" basis. The adjudicatory finding that the applicant defaulted was treated as final, and the appeal against refusal to refund was dismissed, leaving the contractual forfeiture and non-refund outcome intact. Case-Laws IBC Mon, 26 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467208